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LATEST NEWS UPDATES | India may miss tax collection target for 2019-20 by nearly Rs. 2.5 lakh cr: Garg

India may miss tax collection target for 2019-20 by nearly Rs. 2.5 lakh cr: Garg

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published Published on Jan 22, 2020   modified Modified on Jan 22, 2020
-PTI

* Subhash Chandra Garg from the tax revenues perspective, 2019-20 is proving to be a dysfunctional year

* Former finance secretary says corporate tax, excise duties and customs are likely to see negative growth in collections in 2019-20

NEW DELHI:
The government's tax collection is likely to fall short of its estimate by Rs2.5 lakh crore or 1.2% of GDP in 2019-20, former finance secretary Subhash Chandra Garg said on Sunday while calling for scrapping of dividend distribution tax.

Garg in a blog said that from the tax revenues perspective, 2019-20 is proving to be a dysfunctional year. "Tax revenues to see shortfall of Rs2.5 trillion (1.2% of GDP). Time to junk DDT and reform personal income tax," he said.

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Livemint.com, 19 January, 2020, https://www.livemint.com/news/india/india-may-miss-tax-collection-target-for-2019-20-by-nearly-rs2-5-lakh-cr-garg-11579440886132.html


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